Guzman y Gomez (GYG) has announced today that former Wesfarmers department stores CEO and long-standing GYG board member, Guy Russo, has been appointed chairman of the board.
Russo was instrumental to the turnaround of Kmart Australia, taking it from near bankruptcy in 2008 to successive sales gains through a high volume-low price strategy.
Russo, who retired from his role at Wesfarmers in October 2018, will continue as a senior adviser at Wesfarmers for the remainder of the 2019 financial year.
He joined the GYG board in 2014 and has been part of the rapid expansion of the GYG business over the last four years.
A major milestones for GYG over the past 12 months included securing $44 million investment from TDM Growth Partners to accelerate domestic and international growth.
Guzman y Gomez global CEO Steven Marks praised Russo's contribution.
“Guy Russo is one of the most dynamic and successful retail executives in Australia, if not the world.
“He’s one of the most astute board members I’ve seen.
"As chairman he will have high expectations of both board and management to deliver across all aspects of governance and the business.”
Russo welcomed his new role.
"GYG has been on a remarkable journey since its first restaurant opened in Newtown in 2006. I’ve been fortunate to have been involved for much of this time and anticipate an exciting future as we pursue a mission to reinvent fast food.
“We’ll be seeing more of the exciting food and culture that GYG has become renowned for along with some category-defining work in menu and restaurant innovations over the next 12 months.
"I can’t wait to be involved with the whole team, from robust leadership to our energetic crew in store, as we can take GYG to the next level.”